it means - what are you doing ?

What are you up to? :)

sometime it could mean what is your profession ? what is the deal of your life ? Чем сейчас занисаешься ? Работаю на заводе . What do you do? I work on a factory . А твоя жена чем занимается ? what does your wife do? Воспитывает детей . She brings up the kids